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. >>> and now to the economy. the labor department releases january's report this morning. the economy remains sluggish challenged by a steep decline in defense spending and the impact of higher social security taxes. susan mcginnis is in washington this morning. susan, good morning. >> anne-marie, good morning. we have an economy still struggling despite positive signs like higher consumer spending and business. we expect sluggish growth in today's report. of course, any surprises there could jolt the market. wall street is eagerly awaiting the government's january jobs report. analysts predict the company added jobs last month but not enough to budge the unemployment rate from its current 7.8%. >> it's been a slow process. >> latoya patrick is one of america's estimate 12 million unemployed workers. she's been looking for a job since the fall after graduating with a master's degree. >> i'm not going to lie. it's been tough sometimes. when you're home, you feel like i spent all this time going to school and it's like nobody's giving you a chance. >> economists say until more people like latoy
in the technology industry where it was mentioned that between 2010 2010-2020, the american economy will annually create more than 120,000 additional computer or science jobs that were require at least a bachelors degree. that's just mention one aspect of this. this is great news for many of our computer science students. and for joy that is the end of the good news. each year only about 40,000 american students receive bachelor degrees in computer science. in other words, there are approximately 80,000 new computer science positions every year in the united states cannot be filled by available american workforce positions. and i have positions that need to be filled so that our technology industry can continue to thrive. simply put, u.s. based companies have a great need for those trained in the science, technology, engineering and math fields. but at least right now there are not enough americans trained and ready to fill these jobs. we cannot continue to simply hope that american companies do not move operations to countries where they have greater access for individuals trained in these s.t.e
. >> and when you consider what happened is in the german economy in the fourth quarter, the headline gdp figures disappoint and yet the employment data looks okay. >> which is one of those things. we'll cure our eyes on the reaction to that. plenty of news to come, as well. plenty to come on the show. let's remind you what is on today. it's all about financials not just in europe and japan, but in india where the country's biggest lender has just posted number peps we'll be out to mumbai for a breakdown. >>> and what are the traders saying? at 10:45 european time, we'll have our eyes on stocks from the london trading floor. >> other indices around the world posted record indices around the world in january. >> and we'll explain more in a little bit. >>> first, deutsche bank shares are trading higher today after the group reported strong operating performance for its divisions in the fourth quarter, despite posting a heavy loss. the german euro booked a 1 million litigation charge which led to restructuring. in an analyst call, it was said the group does not need to issue more sales but l
the economy, they say, is starting to turn around. what is going on here? we will bring in the senior business correspondent and anchor of bulls & bears. thank you for joining us. this number, then, is increasing. in fact, two years ago, 42 percent of retirees were putting off retirement. why the increase? >> it has been -- we have been getting more gray as a workforce because people have longer life spans and they have better health. we have switched from defined pension benefits to more risky 401(k) plans for people who have worked longer. the last two years was a dramatic jump leaving us to think it is something to do with the economy. people have been drawing down the 401(k)'s and into their savings because they have lost jobs and the value of homes are going down. the storm now is back where it was before the big financial meltdown in 2008 but, however, there is a feeling of insecurity. that is what is driving people to stay in the workforce longer. >>heather: home prices are rising now, and you mention the stock which has turned around if now. so, with the economy possibly rebounding, ho
. because of what we saw in the final quarter of the year 2012, the economy actually shrank as defense contractors -- or in part because defense contractors said you know he what? the axe is about to fall. get ready for this. we're going to pull back now. remember, we spend more than $900 billion a year on the defense department, on the pentagon, and so these contractors have a lot to say about the overall size of our economy. the president having seen that is going to say look. we have these cuts that we agreed to go into place, but the economy can't handle it right now, so let's kick the can a little bit and do some of these same kinds of cuts, and they call them cuts, but they're not really cuts. sometimes they're reductions to future increases, sometimes they're taking into account things like not fighting in the iraq war any more, and accounting gimmickry to get to the next thing, and then we'll fall off that cliff when we get to it. >> we understand the president isoing to highlight some bad things that will happen if this doesn't get resolved, things like kids getting kicked out
to republicans today demanding they move quickly to stop devastating budget cuts that could damage the economy and throw hundreds of thousands of people out of work. these are automatic cuts the congress agreed to. and they're going to go into effect in three weeks unless lawmakers act now. the president is fighting the republicans cut, cut, cut obsession. >> we can't just cut our way to prosperity. deep cuts to things like education and training, energy and national security will cost us jobs. and it will slow down our recovery. it's not the right thing to do for the economy. it's not the right thing for folks out there still looking for work. our economy right now is headed in the right direction. and it will stay that way as long as there aren't any more self-inflicted wounds coming out of washington. >> this self-inflicted wound would include massive cuts to virtually every government program. from medicare and housing to head start and food aid for children. the president wants republicans to delay those cuts through a balanced approach that would force corporations and the wealthy to giv
of time. the economy's growing about 7% a year. including inflation. and how long is that going to take? if you grow 7% a year, that means you double your money every ten years. that means if the stock market is 14,000 now, it could be 28,000 in ten years, and it could be 50,000 or 60,000 in 20 years. >> nice long-term bullish view of the markets. not just for the six months or even the next year. >> you compare it to bonds, which is what he's doing, you feel pretty darn good. it's also -- there's a lot of good chatter about pension plans being so far behind. i would love it, just in terms of companies being able to return money, if they were less worried about pension plans. that kind of talk makes me maybe embolden pension plans to say, let's get a little more risky and maybe we can pay off. that's also going to be very important for stock valuations. >> right. it's going to be another flow of funds into the market from the pensions, not only from the individuals which we've seen. i mean, did you catch vanguard's flows for the month of january? $24.8 billion coming into vanguard's. >>
the economy faster or put more people back to work. the problem is we have a stalemate in washington. this week, we received the 50 estimate of america's economic growth and it reminded us that bad decisions in washington can get in the waive our economic progress. >> eric: the president blames republicans, the republicans blame the president. who is to blame? both? we have the chair of the foreign pac and outreach director for john mccain for president and a congressman from pennsylvania. ford, you heard the litany from the president. after all, he is the commander in chief. he is the president... in charge? >> the president is the biggest obstac toll private-sector job growth in america right now. he seem, to we can tax, spend and regulate ourselves to prosperity. the private sector is asking for certainty. because the president doesn't want to pass a budget or modernize spending for bietlements. he is the big issue. it is up to him to take a long look in the mirror. i agree that congress has played a role. he needs to stop worrying about destroying republicans and start worrying a
, and the economy. without it, things simply can't exist. woman: we have good health in this country, in part, because we have clean water. and we shouldn't forget that, and we shouldn't take it for granted. melosi: in the late 19th century, serious waterborne disease epidemics were having devastating effects. roy: but then, in the early 1900s, we began to treat our water. and since then, we've seen a rapid decline in the incidence of waterborne disease. narrator: most cities treat drinking water through filtration, chlorination, and sometimes ozonation to kill pathogens in the source supply. these are complex treatment plants that cost millions of dollars to operate, but are necessary for our wellbeing. the treatment of drinking water has been called one of the greatest public health achievements of the last century. the water infrastructure itself protects the treated water until it comes out of our taps. it's been since 1911, since we had an outbreak of cholera or typhoid in the united states. but that doesn't mean that it can't happen. it can happen. if we aren't on our guard all the time
to cover the super bowl this sunday, but we start tonight with the economy. it took nearly five years but the dow is back above 14,000, a symbolic end to the worst economic crisis since the great depression. back in october of 2007 the dow hit an all time high of 14,164 and then the bottom fell out. by march of' 099, that key measure of america's economic health had fallen to 6,547. today the dow gained 149 points to close at 14,009. the market was giving a thumbs up to the latest jobs report. while unemployment did tick up a tenth of a point to 7.9%, a separate survey of employers shows that they added 157,000 new jobs. but is the stock market's big gain a sign of economic health or is it a wall street fever? here's anthony mason. >> reporter: super bowl souvenirs are rolling off the line in a hurry at win craft, the sports collectibles company if winnow ma, minnesota. super bowl sunday is big business here. president john killen says the company just had a strong sales year. >> it actually grew our employment base to about 50 people up from about 500. the sales jobs, accounting jobs
had ended eventually, they will be right. if you keep predicting doom, sooner or later the economy will fall into recession and you will be right. the problem comes into timing. into what could potentially go wrong and how soon that could happen and how pervasive the weakness will be. certainly, you look at what the federal reserve was saying or what the treasury was saying at the time prior to the financial crisis. you know, the question is, do they mislead people? did they have a forecast that was contrary to what was prevailing? those are the questions that need to be answered. forecasting is hazardous. particularly, when it involves predictions about the future. mark twain said that. i do not know that, i do not know that you can make that a crime. connell: we rate every deal. we will see what eric holder has to say in a couple minutes. thank you for coming on. we will talk to you soon. dagen: somebody bought that and they turned blind eye to actually looking at securities in the portfolio. connell: it was was a messy time. dagen: barclays setting up a rainy day fund. more than
to negotiate a bigger grand bargain, as the president would like to have, that the economy could tilt back into recession, we've seen the stock market go up, encouraging signs of job growth. the president says that could be at risk when you have federal budget cuts, true? >> the cbo, congressional budget office came out with a report ten minutes ago that said the effects of the sequester would retard growth by 1.3 percentage groups. the cbo said, if we get rid of the sequester, we're not going to grow at gang buster rates. yes, the sequester will not be good for the economy but the president, i suspect, will try to do, and definite hawks advising, we can replace the sequester with a smarter strategy that is a more gradual deficit reduction plan. he's going disagree with the republicans on how to do that. he's going to want revenue to be part of it. republicans will say no thank you. >> we'll get the president if a minute and a half. white house gave us a two-minute warning. i would say it's a short-term for the president and the congress not doing what they're supposed to do pass a budget
you know why this one took so long. >>> some solidly mediocre news about the economy, and the dow crosses 14,000. business news just ahead. >>> and nothing mediocre about the forecast on this first day of february. you may think we're moving into spring based on the temperatures we're already seeing outside right now close to 60 degrees. could see 70 in parts of the bay area. we'll look at your super bowl weekend forecast when we come right back. >>> there's more news this morning. the american economy is stuck right in neutral, but scott mcgrew says, hey, the stock market didn't even seem to notice. >> yes, good morning. starting with jobs, the american economy added 157,000 jobs to the month of january. that's a solid number, kind of a huh number. the unemployment rate rises to 9.7%, up 0.1%. now on wall street, they seem not too bothered about that. in fact, the dow industrials crossed over 14,000 for just a little bit there. here we see the nasdaq open. they're wearing red because of heart health. the federal trade commission this morning says the app path will pay $800,000 in
there was strength in construction, manufacturing, and retail hiring. the labor department also said the economy added 422,000 more jobs last year than first reported. that upped the average monthly job growth in 2012 from 153,000 to 181,000. but the economy is facing new head winds with the payroll tax rising again from 4.2% to 6.2%. how much impact do you think the payroll tax hike is going to have on growth? >> consumers are faced with a drop in real disposable income of more than 2% in the first quarter. that's going to impact spending. that's going to shave at least a percentage point off of g.d.p. growth. >> reporter: and slower growth of course, means less hiring. but many economists believe that will only be a temporary setback to the economy while people adjust, scott. >> pelley: anthony, one of the worst problems in unemployment has been long-term unemployment. have we made a dent in that? >> reporter: scott, there are still 4.7 million people out there who are out of work more than six months, but this is encouraging. the average length a person is unemployed has dropped to 35.3 weeks
that the economy is improving. so you can be happy about that. christine romans is here with me. she's smiling, too. one of those good news bad news stories. on your personal economy, you always tell me your business is a business of one, economy of one. that's painful statistics. >> it is. it's a week worth of your life wasted trying to get to work. it's a sign of a strengthening economy, it means you are driving to work more, it means more deliveries are being taken by truck on the roads. and it also means bridges are being fixed, some of those delays are because of infrastructure work. in 2005 you spent 43 hours in the car every year, 2010 dropped to 34 hours. we are back up to 38 hours. that's enough wasted gasoline sitting in traffic costs you 818 bucks a year, as much gas as could fill the superdome four times. dc is the worst which has a growing economy. dc, los angeles, san francisco, new york and boston. those are cities with the worst traffic, this from texas a & m. >> i know everybody is different. everybody has a different commute and that sort of thing. on average, what is the family b
at an all-time high. but, it may not mean a thing for our economy. i'm brooke baldwin. the news is now. >>> a prosecutor gunned down in a parking lot. and now a warning. >> i hope that the people that did this are watching. we're going to find you. we're going to pull you out of whatever hole you're in, and we're going to bring you back. >>> plus, live during this hour, you'll see hillary clinton say good-bye in her last moments as america's top diplomat. >>> and super bowl bets. will alicia keys get booed? will jay-z join his wife at halftime. in vegas, it is all up for grabs. >>> here we go. top of the hour. happy friday to you. i'm brooke baldwin. something is happening today that hasn't happened in more than five years. it is great news for a lot of you, of course, saving for retirement or to save a child for college, for example. the stock market is soaring to levels we really haven't seen since 2007 which is all the way back there. checking out the big board with me, it has been a huge day at this moment, two hours away from the closing bell. we are above that 14,000 mark at 14,0
's paycheck went down as taxes went up. that will take $200 billion out of the economy. now you have got gas prices spiking. that's going to take even more money out of the economy just as the economy starts to slow down and contract. the timing as you said could not be worse. gregg: you are such a kill joy on a monday morning. stu varney. martha: so this spike at the pump appears to be no fluke but a part of an ongoing trend. gas prices have gone up for 18 consecutive days. 18 states have gas prices higher than the national average. they are feeling the pain of that more than the rest of the states. we are just getting started on this monday morning. gregg: ahead. a deadly chain reaction crash involving a tour bus. details on what investigators think went wrong in a live report. martha: president obama in his super bowl interview. he dropped a bit of news. he is pushing once again for increased revenues. there is only one way to get those these days when you have got an economy that's not growing. former president wash adviser karl rove is here with us next. gregg: a little boy in alabama s
, pressure to stop iran in the program. they've taken a huge bite out of the iranian economy but their nuclear program is accelerating. by spring our prime minister said come spring, come summer by the united nations they will have enough rich uranium for a bomb. they'll take it, go under ground-- >> this spring. >> this spring. >> cenk: discuss israel have an agreement to act by spring. >> we are close in communication with the administration to figure out when it will be too late to stop iran. we believe crippling sanctions together with the military threat that sends to iran a simple thing. you will not have that bomb no matter what you do. right now they think that they're paying a high price but that they will have the bomb. but the threat of military action if they don't stop hopefully that will be enough to make them stop. we don't want a military solution. >> cenk: there are some reports that there was an explosion at their top nuclear site in iran. can you confirm whether israel was involved with that? >> i can't come firm the press reports but i can tell you that th
in the rewrite. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro. >>> and so on this the 46th day since the massacre of 20 first graders and six educators in newtown, connecticut, it has come to this. father of newtown victim heckled at hearing. neil hesslin, whose six-year-old son, jesse, was shot to death at sandy hook elementary school, testifie
and none of this is to argue that economy is in good shape, just better shape than the 0.1% indicates. to pick up on theme hurdles. we have to overcome demand offset certainly coming government spending cuts. will government boost inventories in the first quarter. business investments going and will consumer be hurt by payroll tax hikes. probably the best way to think about the economy now. you get there by averaging stronger than expected growth in third quarter. what's clear, is this report, think of it as the ghost of christmas future. if you cut back an gov spending, it mathematically approaches. it sets the stage and uncertainty associated with it for better growth in the future. tyler? >> steve, much to think about there. how are defense stocks reacting to the 22% reduction in defense spending by the government in the fourth quarter? jane wells has details in l.a. jane? >> tyler, defense spending down. after reporting descent guidance and returning lots of cash to investors, saying quote i can't recall a time of greater uncertainty. raising guidance but none of the
the economy collapsed. it was those types of products that were securitize, they were put into investment vehicles but in order for those investment vehicles to be purchased bid pension funds, mutual funds, they had to be rated so it was standard & poor's that would say to them that the c.b.o.s had the highest rating, the a.a.a. rating. only then were they able to be purchased by these investors but all along it was well known that those investments, that collateral, was not as good as they said. so at the end of the day if you look at why the financial collapse took place and why it was so large it was because you had standard & poor's saying that these were good and they were really bad. >> brown: s&p put out a statement right away, yesterday, they said, look, we used our best judgment and they said in essence everybody was wrong. a quote "unfortunately, s&p like everyone else did not predict the speed of the coming crisis." how do you prove otherwise? >> you prove it when you look at their, mals and models they could have used that have better insulation and you see what was driving th
about over the last five or six years because of what happened when the economy collapsed. it was those types of products that were securitize, they were put into investment vehicles but in order for those investment vehicles to be purchased bid pension funds, mutual funds they had to be rated so it was standard & poor's that would say to them that the c.b.o.s had the highest rating, the a.a.a. rating. only then were they able to be purchased by these investors but all along it was well known that those investments, that collateral was not as good as they said. so at the end of the day if you look at why the financial collapse took place and why it was so large it was because you had standard & poor's saying that these were good and they were really bad. >> brown: s&p put out a statement right away yesterday they said, look we used our best judgment and they said in essence everybody was wrong. a quote "unfortunately s&p like everyone else did not predict the speed of the coming crisis." how do you prove otherwise? >> you prove it when you look at their, mals and models they could have
. president obama shifting focus back to the economy after encouraging economic news friday. >> home prices are starting to climb again and car sales at a five-year high. manufacturing is roaring back. the business created 2.2 million jobs last year and our economy created more jobs than econom t economists originally thought. >> jones industrial average closed about 14,000 on friday, the highest since 2007. the los angeles mayor has put an end to speculation that he will be joining the obama cabinet. there is talk he might be transportation secretary. he said he will finish out his term as mayor. in massachusetts, former senator scott brown said he will not be running for the senate seat vacated by john kerry, but there is speculation that brown could have his eye on the governor's seat when patrick steps down in 2014. we will take you to boston to big deeper into that story later in the show. a whole lot to get to first. vice president biden is in germany and talking international security with diplomats from around the globe. in his speech earlier he called the president a tyrant and sa
that jobs are being outsourced by the millions there will be more. we are a knowledge based economy and then we find that knowledge is pitifully narrow-based in this country when it it comes to the ability to employ people. we are paying a huge price and it's only begun. it's only begun because of this. these baby boomers as they reach 62 are taking early social security. they are going to be tapping. >> shannon: at a penalty. >> therefore even greater demand than expected on social security. we are watching the social safety net protect the lives of so many and without it, frankly, so many millions of people would be in even worse trouble. now that social safety net is going to be under such severe strain. it's going to threaten, i think -- there is the prospects it will threaten it to the point it will collapse. >> you mentioned homes which is negative for folks in this age group in another way if they have lost their job and trying to get back in, it's a much harder time for them to get back in other age group. if they have a home and underwater in it, they can't pick up and move
murder. chris kyle leaves behind a wife and two kids. >> the white house says they economy is beginning to heal as the dow passes the the 15,000 market. and the housing market shows sign signs of recovery. but unemployment is up and the white house hasn't passed a budget or cut spending. it's a mixed bag, adding up to a catastrophe, according to our next guest, an author from nashville. thank you for your time today. >> thank you. the other story, i have a son-in-law, a former sniper. it's very touching, awful story. >> it is. our sympathies go out to the two families that are involved and the loved ones of of both of them. you are an expert in the economy. we have had positive signs. why do you think we are headed in the wrong direction? >> we are not growing fast enough to bring the unemployment rate down and get rid of the huge unemployment and the people who have ls left the labor force. you know, the longer this time last. it is not just a number. these are the real people who lose their pride, their self-esteem and their jobs skills and their chance to becoming productive american
,000 mark. don't break out the bubbly yet, the economy shrunk. >> so what? >> what does it mean al jazeera? >> i'm not sure i don't know. >> all that the maers. >> ray lewis strongly denied any link to deer antler velvet. >> it's never been a question if i ever even thought about using anything. >> lewis says it's ridiculous he would use deer extract, then he darted across a busy road and hopped into the field. >> i really think i'm the greatest receiver to ever play this game. >> i impacted the game by winning super bowls. >> randy moss told his teammates they are in new orleans on a business trip and went back to his job catching a ball for money. >>> welcome to "cbs this morning." breaking news a large and dangerous storm is moving from the south. it hit eastern missouri arkansas and tennessee. homes were damaged trees and power lines knocked down thousands lost power. >> the front stretches from texas to the northeast. one man has been killed in nashville and the storm also left its mark across indiana. reporter jessica hayes of wish-tv is in indianapolis. >> reporte
to enter the country but only when the economy is good and the details on how it would exactly go about that are still a bit fuzzy. it would call for a mandatory system to check whether employees are authorized to work in the united states. something like this already exists but it's not widely used. president obama plans on praising all of those proposals today. but he wills go a step further. now, what he's looking for is a more straightforward path to citizenship and what i mentioned earlier with the senate's plan, theirs would be more of a probationary method. today's announcement is the kickoff for the administration's push on immigration reform. we're back after the break. stay with us. i want the people who watch our show, to be able to come away armed with the facts, and the arguments to feel confident in their positions. i want them to have the data and i want them to have the passion. but it's also about telling them, you're put on this planet for something more. i want this show to have an impact beyond just informing. an impact that gets people to take action themselves.
. that was way before the economy went into freefall, so he had a couple other priorities he had to deal with when he first came into office. and the third thing, erin, is that this president wants this as his legacy. and he has said that he wants it to be a priority, even during the re-electiore-election, he tt this, so he knows that now he has a debt to pay. the republicans need to do this as a necessity, and with all due respect to the congressman, this is absolutely an issue of electoral survival for the republican party. the congressman is right that this isn't the only thing that republicans need to soften up their tone on, but if this isn't something they get done for the latino community, they're not going to listen to them on anything else. >> congressman, here is my problem intellec chatually from where you're coming from. and this is a complicated issue, but i don't understand. these people are already here. you're not going to be able to pick them up and move them out. that's not practical. so if you start from that point of view, how are you ever going to get a deal? >> if i
of the shadows, that is over $1 trillion that's going to be put into our economy over ten years. that's going help to provide for education, for social security, for all the things that we worry about right now. who is the work force? where is the work force? there's a work force right here that we can help engage, put them on a pathway to legalized, earned immigration status that they'll have to earn. they'll have to pay back, you know, penalties, taxes, learn english, get in the back of the line and work their way through it, and i think that the public overwhelmingly supports that notion. >> do you have any concerns about the way the obama team inside the white house, the cabinet is shaping up so far in the top positions we've seen white men. we've seen a lack of diversity, critics say. there is that iconic picture, we're told, valerie jarrett is separate there behind dan pfiffer, but not really visible. she is a powerful voice. there's no denying that. the most powerful voice probably in the white house. what about lisa jackson that's left, vpa. you're leaving labor. when are we going to
everybody here and that allow us to recover our economy, and everything because it's so interdependent. >> so that is a difficult goal but i think we can achieve it over the long time so thank you very much for hosting us and hosting this great exhibit, and thank you very much for joining >> i am jeff idakia, and i provide legal representation to 20,000 people every year. it is our goal to ensure that we have the best legal representation possible. we started this nine years ago, to increased consciousness and awareness of the issues that affect public safety in criminal and juvenile justice reform. i am proud to say that this is the ninth summit. we take on issues like closing the california youth authority. and we in the confinement of youth -- young children in -- and the prisoner re-entry program and abolishing the death penalty. we take on three critical issues. the first panel has a riveting discussion about gangs. and reducing gang violence. on our panel are former gang members, gang intervention workers, police, public defenders, and researchers. we talk about strategies to red
Search Results 0 to 49 of about 109 (some duplicates have been removed)